Investors Provident (IP), a UK based property consultancy recently launched a rare and unique opportunity for Muslims to purchase 5* Le Meridien apartments in the sacred city of Makkah, Saudi Arabia
Working under the five star Le Meridien Hotel banner and in association with Saudi Amjad, a leading developer in the Middle East, Investors Provident have launched this groundbreaking and historic solution to cater for the increasing amount of accommodation problems in one of the world’s holiest cities.
The deluxe property will offer 1,335 studio, one-bedroom and two-bedroom apartments, and feature separate prayer rooms for men and women, a health club, restaurants, high-quality shops and direct access to the Holy Mosque through a tunnel.
With over 2 billion Muslims worldwide praying to Makkah 5 times a day, this holy city is also the place where the Prophet Muhammad, peace be upon him, was born and the place where God's message was first revealed to him. About 10 million Muslims visit Makkah annually. Tourism swells during the holy month of Ramadan and the month of Hajj, the pilgrimage to Makkah that is required of all Muslims. Le Meridien Towers has been designed in full compliance with Islamic values and has received a rapturous response from the global Muslim community.
‘The response we have received from the worldwide Muslim community has been quite simply astounding’ said Omar Ahmed, Communications Director at Investors Provident.
‘We’ve had enquiries from Muslims in Canada, the UK, Morocco, France, Holland, Malaysia, Brunei and even places like Hawaii & the Cayman Islands’
An article in the New York Times recently stated that the most expensive land in the world is in Makkah, and as expected, the most popular times that people have purchased apartments in Le Meridien have been Ramadan and Hajj. ‘Naturally most clients prefer to visit Makkah in Ramadan or Hajj, as the atmosphere is electric but also because the rental returns are very attractive,’ said Omar Ahmed.
Purchasers for the Le Meridien Towers can also benefit from an interest free payment option, which offers 6, 9 or 12 equal monthly instalments. A deposit of 20% is required at the time of purchase.
‘From an Islamic perspective, it’s an ideal investment, not only can you rent out your apartments but it’s an ideal opportunity for Muslims worldwide to visit Makkah every year and stay in their own luxury apartments at affordable prices,’ says Omar Ahmed
Examples of prices for a one-bedroom apartment in Le Meridien Towers: six nights, $10,000; five nights within the first 20 days of Ramadan: $21,000; 30 nights during the hajj, $170,000.